If the road to acquiring all the necessary approvals goes smoothly, Tom Scannapieco’s plans for a $150 million residential tower near Independence Hall could begin construction in spring 2015. The 26-story high-rise would include 40 condo units with two penthouses, each of them two stories. Availability is projected for March 2017.

Scannapieco, who developed the condos at 1706 Rittenhouse Square, has hired architect Cecil Baker to design what is being called the “glass needle” tower. However, given the building’s proximity to historical landmarks, certain design requirements must be considered. The Inquirer’s Al Heavens writes, “As a result, the building is designed not to interfere with ‘an onlooker’s view from the Liberty Bell to Independence Hall,’ Scannapieco said.”

Rendering below...

Rendering of Cecil Baker design for 500 Walnut Street.

The building's Fifth and Walnut location would be at the site of an 18,155-square-foot space that has been vacant for the past 10 years.

Scannapieco will buy the property for $8.5 million from Five Hundred Walnut Associates, a Joe Zuritsky company. The deal should go through in a couple months.

Be respectful of our online community and contribute to an engaging conversation. We reserve the right to ban impersonators and remove comments that contain personal attacks, threats, or profanity, or are flat-out offensive. By posting here, you are permitting Philadelphia magazine and Metro Corp. to edit and republish your comment in all media.

DTurner

Cool design, but kinda disappointed that there’s no space for ground-level retail.

On Tuesday Dr. Andrew Star, medical director of Abington Health’s Orthopedic and Spine Institute answered viewer’s live questions and gave advice about knee pain. He discussed both conservative and surgical More >>

In celebration of Philadelphia magazine’s 11th Annual Trailblazer Award and with the aid of TD Bank, we’re recognizing the most accomplished, extraordinary women in Philadelphia. Here, we pick the brains of More >>

Kennett Square’s Longwood Gardens is oft-favored for its world-class floral displays and bountiful gardens. However, the horticulture haven is also a go-to for dazzling jazz, organ, classical and world music More >>